document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=864188>Question 864188</A>: <I><SPAN STYLE=\"word-break: break-all;\"> if you invest 15,000 in an account paying 4% compounded annually what will the balance be after 9 years </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #520832 by </B><A HREF=/tutors/aboutme.mpl?userid=lwsshak3><B>lwsshak3(11628)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=lwsshak3><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=520832\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> if you invest 15,000 in an account paying 4% compounded annually what will the balance be after 9 years<BR>\n" );
document.write( "Compound Interest formula: A=P(1+i)^n, P=initial investment, i=interest rate per period, n=number of periods, A=amount after n-periods.<BR>\n" );
document.write( "For given problem:<BR>\n" );
document.write( "Initial investment=15000<BR>\n" );
document.write( "interest rate per period=4%<BR>\n" );
document.write( "number of periods=9<BR>\n" );
document.write( "..<BR>\n" );
document.write( "A=15000(1+.04)^9=15000(1.04^9)=21350<BR>\n" );
document.write( "Balance after 9 years=21,350 </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );